NBP: Polish enterprises' situation is gradually improving, forecasts more optimistic

By bne IntelliNews July 22, 2014

Polish enterprises' economic situation has been improving gradually and their forecasts for Q3 of 2014 are slightly more optimistic than those expressed in Q2, according to the National Bank of Poland's (NB) June survey based on a poll among 1340 firms from all sectors of the economy. However, their mid-term forecasts have deteriorated.

The surveyed firms assess that their standing improved in Q2 of 2014 compared to the previous quarter. The percentage of those perceiving their situation as "very good" rose by 2pps q/q to 75%. They expect economic growth to pick up in Q3 of 2014, on the back of more dynamic investment activity and relatively high profitability, especially in the case of exports-oriented enterprises. The factors slowing down growth could include stable growth of retail sales and weak improvement on the labour market, the central bank reported.

However, exporters do not expect further acceleration of exports' growth dynamics. The exporta accords' indicator inched down by 0.8pps q/q, while the indicator of new exports accords rose by 2.0pps q/q; at the same time, exports leading indicator rose by 4.5pps. All these indicators are close to their long-term averages, which has prompted NBP to expect relatively high dynamics of exports' growth.

The central bank also notes that exporters' situation is clearly better than those companies that are focused on domestic market, while the Russian-Ukrainian crisis has not impacted their standing and sales levels to any significant extend. NBP explains that after the 1998 crisis, the enterprises that export their products to these countries are stronger and bigger entities whose export markets are also elsewhere, so that their sales are balances geographically. 

Related Articles

Poland isolated again as it threatens to block EU declaration

Poland will not sign the Rome Declaration if its demands for moulding the EU’s future are not reflected in the document, Prime Minister Beata Szydlo threatened on March 23. The statement could ... more

Polish ruling party's poll lead hit by EU spat

The popularity of Poland’s ruling party Law and Justice (PiS) has fallen below 30% for the first time since mid-2014, a poll showed on March 20. The survey, published by liberal newspaper ... more

Enea buys French utility out of Poland

Enea has acquired a 100% stake in Engie Energia Polska - the Polish business of French power company Engie - for PLN1.26bn (€290mn), the state controlled Polish utility said on March 14. The ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss